Maravai LifeSciences (MRVI) Stock Drop Lawsuit Investigation (2025)
We are investigating whether Maravai LifeSciences (NASDAQ: MRVI) misled or provided false statements to investors in violation of federal securities laws. This potential lawsuit seeks to help Maravai LifeSciences shareholders recover their losses.
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Why is Maravai LifeSciences (NASDAQ: MRVI) Stock Dropping?
On Tuesday, February 25, 2025, Maravai LifeSciences disclosed that it would be postponing its previously announced earnings release and call scheduled for February 25, 2025, and it would be unable to file its annual 2024 financial report on time. In a press release, the company explained it needs additional time to:
- Complete “its assessment of a potential non-cash impairment charge related to goodwill associated with its previous acquisition of Alphazyme LLC.”
- Assess “an error identified during the close process with respect to revenue recognition associated with a single shipment identified in year-end audit procedures that resulted in approximately $3.9 million in revenue being recorded in the final week of the second quarter of 2024 upon shipment when it should have been recorded in the first week of the third quarter of 2024 upon receipt by the customer.”
- Complete “its assessment of the effectiveness of its disclosure controls and procedures and internal controls over financial reporting as of December 31, 2024, and any remediation, including with respect to remediation of a material weakness in its internal controls over revenue recognition identified by management.
Following this news, shares of Maravai LifeSciences dropped over 21% in intraday trading on February 25, 2025, causing significant harm to investors.
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